{"id":31458,"date":"2024-05-28T09:49:20","date_gmt":"2024-05-28T09:49:20","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/mt-gox-moves-over-9-billion-in-btc-to-new-wallet\/"},"modified":"2024-05-28T09:49:20","modified_gmt":"2024-05-28T09:49:20","slug":"mt-gox-moves-over-9-billion-in-btc-to-new-wallet","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/mt-gox-moves-over-9-billion-in-btc-to-new-wallet\/","title":{"rendered":"Mt. Gox moves over $9 billion in BTC to new wallet"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/shutterstock_1311717587-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/shutterstock_1311717587-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/shutterstock_1311717587-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/shutterstock_1311717587-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Bitcoin price dipped nearly 2% on Tuesday morning to trade at lows seen last Friday before rebounding slightly as of writing.<\/span><\/li>\n<li><span style=\"font-weight: 400\">This BTC price decline came after the latest crypto news around defunct cryptocurrency exchange Mt. Gox.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">On May 28, Mt. Gox moved more than 141,000 BTC worth over $9.6 billion to a new unknown wallet.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Data shows the transfers happened in several transactions, with chunks of between 3,999 BTC and 32,499 BTC. The latest <a href=\"https:\/\/x.com\/AxelAdlerJr\/status\/1795355150183465427\" target=\"_blank\" rel=\"noopener\">on-chain data<\/a> shows all of the coins are now transferred to the new address.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As the market reacted to the news, <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin price<\/a> fell from highs of $70,000 to lows of $67,550. The flagship cryptocurrency\u2019s price had however rebounded to above $68,000. BTC remains 4% down this past week.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">BTC price and the Mt. Gox creditor repayment plan<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Mt. Gox was once the crypto industry\u2019s largest Bitcoin exchange before a 2014 hack saw it lose over 850,000 BTC. After years of waiting amid recovery efforts, creditors are set to receive reimbursements.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The process sees the defunct exchange move BTC from its cold wallets for the first in five years. According to the approved repayment plan, creditors should receive their bitcoins by October 31, 2024.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The bearish market reaction is down to the potential influx of fresh selling pressure on prices. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Analysts at K33 Research warned in April that the impending <a href=\"https:\/\/coinjournal.net\/news\/k33-research-cautions-mt-goxs-imminent-9b-payout-could-impact-bitcoin-btc\/\">$9 billion Mt.Gox payout<\/a> could catalyse downside pressure on Bitcoin\u2019s price.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Despite this outlook, the market remains largely bullish on BTC price long term. Crypto analyst Miles Deutscher <\/span><a href=\"https:\/\/x.com\/milesdeutscher\/status\/1795343589678907416\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">believes<\/span><\/a><span style=\"font-weight: 400\"> any dips amid the repayments could offer an opportunity to accumulate.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/mt-gox-moves-over-9-billion-in-btc-to-new-wallet\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Bitcoin price dipped nearly 2% on Tuesday morning to trade at lows seen last Friday before rebounding slightly as of writing. This BTC price decline came after the latest crypto news around defunct cryptocurrency exchange Mt. Gox.\u00a0 On May 28, Mt. [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":31459,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31458"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=31458"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31458\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/31459"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=31458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=31458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=31458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}